Elliott Management agitates for change after $1.4bn Cognizant investment

Activist investor Elliott Management has announced it has immediately proposed that Cognizant enact substantial changes after taking a $1.4bn position in the IT consultancy. The hedge fund, well known for taking large positions in technology companies and pressuring management for policy and structural changes to increase shareholder value, did not deviate from its template with Cognizant, issuing a public, 16-page letter to the board. In the letter, Elliott requested a meeting with Cog...